Zillow entered a credit agreement providing for a $500 million revolving credit facility.
The facility could be increased by an additional $250 million, the home listing service said in a filing Friday.
Revolving loans may be borrowed, repaid and reborrowed under the agreement until Jan. 30, 2031, at which time all amounts borrowed must be repaid.
Revolving loans may be prepaid and revolving loan commitments can be permanently reduced by Zillow in whole or in part without penalty.
Revolving loans will bear interest at either a floating rate per year equal to the alternate base rate plus a margin, or at an annual rate equal to the secured overnight financing rate plus a margin.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
Zillow Group, Inc. helps people find and get the home they want by connecting them with digital solutions, partners, and agents, and buying, selling, financing, and renting experiences. The Company’s affiliates, subsidiaries and brands include Zillow, Zillow Premier Agent, Zillow Home Loans, Trulia, Out East, StreetEasy, HotPads, ShowingTime+, Spruce, and Follow Up Boss. It provides integrated transaction experience for movers through Zillow, its network of partners, its affiliated brands, and through a comprehensive suite of marketing software and technology solutions for the real estate industry, including Spruce, Mortech, New Home Feed, ShowingTime+ and Follow Up Boss. Its services are primarily designed for buyers, sellers, partners, renters, and borrowers. For customers who are focused on buying new construction homes, it connects them with its home builder partners. Its rentals marketplace assists its partners with listings, advertising, leasing, and property management services.
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